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News Updates    India’s job market flooded with engineers

India’s job market flooded with engineers

New Delhi, Apr 17 (TruthDive) : India’s job market is in for trouble. Twenty-four lakh graduates are out of colleges every year but there are jobs only for ten lakhs.

Fifteen lakh engineers are being trained and even two big economies, USA and China put together do not have that many engineers. These qualified graduates and post graduates could be a problem, if jobs are not created, says a report.

According to a report, these engineers could end up doing jobs not suited to them and due to supply being more than demand, the wages would not increase.

In 2020, out of China’s workforce of 9.4 crores, an average age would be 20-24 years and in the same period and age group, India would have 11.6 crores. The average age of an Indian in that period would be 29, Japan 46, Europe 47 and USA will be 40 according to the International Labour Organization.

Information Technology will have an oversupply of engineers. IT companies are looking for engineers for analytics and BPO as well as infrastructure management. For four years, there has been a surplus of engineers.

With consumption theory of India not working and income level of earning members not going up, the purchasing power is down. If consumption is down and car loans and consumer loans’ demand go down, education loans have shot up ten times in a span of 7 years.

To add to IT job woes is the new immigration law that restricts companies sending workforce from India to their offices in the US. The cap on this and the stipulation that anybody coming from outside USA and working in the country should be paid wages on par with the US standards. This is applicable to even those coming on a short-term visa.

Nasscom, the IT trade body says that workforce going on assignments cannot be termed immigrants. The edge that companies like Wipro and TCS had was that its Indian workforce working in US offices were giving them the advantage to quoting low rates and profit margins.

Date:7/13/2013 1:37:41 AM

News Updates    New Year may bring in up to 10 lakh jobs

New Year may bring in up to 10 lakh jobs, 10-15% pay hikes

PTI Jan 1, 2013, 04.09PM IST
(Indian job market is expected…)

NEW DELHI: The New Year may usher in loads of cheers for job seekers, as companies are likely to hire up to 10 lakh employees and dole out pay hikes in the range of 10-15 per cent to high-performers, say experts.

As per the estimates of human resource consultants, hiring will definitely see an uptrend in 2013, as compared to 2012, as most economies are coming out of slowdown and the demand from domestic as well as international markets would create many job opportunities.

Date:2/24/2013 10:40:55 AM

News Updates    Over 5 lakh new jobs in 2012

The new year may bring in loads of cheers for job-seekers, as the experts expect the companies to hire more than five lakh new employees during 2012 despite the uncertainties prevailing about the overall economic scenario.

Adding to the cheers of the job market, the employees could expect double-digit salary hikes during 2012.

“If all goes well, and depending on policies of the government and market situation, more than 5 lakh jobs will be created across all segments," executive search firm GlobalHunt's Director Sunil Goel said.

The Indian job market in 2011, felt the ripple effects of the global economic uncertainty, but emerged out of it rather strong, as companies adopted a "cautiously optimistic" approach and experts believe in the new year jobs will continue to be added, albeit at a slower pace.

As per Monika Tripathi, Vice President (Heading the IT, ITeS, Telecom and Research practices) at recruitment process outsourcing firm Elixir Consulting, "The IT/ITeS sector alone will generate as many as around 3 lakh jobs in 2012."

Elixir expects the hiring activities to increase by 7-8 per cent in 2012, from the levels seen in 2011.

As the companies would increase their technology investments and entities from abroad look at India-based service providers or development centres, there is a bright prospect for both domestic as well as multinational companies based in India, in the IT/ITES segment.

In the coming months job, opportunities are expected to grow exponentially in sectors like retail, healthcare and IT & ITeS, defence, hospitality and consumer durable.

Date:5/6/2012 12:29:57 PM

News Updates    IT Services

IT Services

Over the years, Indian IT service offerings have evolved from application development and maintenance, to emerge as full service players providing testing services, infrastructure services, consulting and system integration. The coming of a new decade heralds a strategic shift for IT services organisations, from a ‘one factory, one customer’ model to a ‘one factory, all customers’ model. Central to this strategy is the growing customer acceptance of Cloud-based solutions which offer best in class services at reduced capital expenditure levels.
Key Highlights during FY2012

    * IT services exports is the fastest growing segment, growing by 19 per cent in FY2012, to account for exports of USD 40 billion
    * Considerable traction in traditional segments – custom application development, application management, IS outsourcing and software testing
    * Increased acceptance from mature segments such as BFSI, US, and large corporations, and emerging segments such as retail, healthcare, utilities, SMBs, Asia Pacific and RoW
    * Industry re-tooling itself to adjust to rapid change in customer priorities – from SLAs to increased time-to-market
    * Emerging technologies – cloud computing, mobility, social media and big data/analytics unleashing new opportunities for the industry
    * IT services is the fastest growing segment in the Indian domestic market, growing by 18 per cent to reach Rs 589 billion, driven by increasing focus by service providers

Date:5/2/2012 4:14:10 AM



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